Arzu Azimov: In coming year maximum oil price will be 55 USD

SOCAR Trading CEO commented on current situation on the world market

Baku. 8 September. REPORT.AZ/ The price of crude oil on the world market within a year will be 40-50 USD/barrel range or will reach a maximum level of 55 USD. 

Report informs citing The Washington Post, Arzu Azimov, CEO at SOCAR Trading SA said.

According to A.Azimov, when prices go up, American companies increasing oil output The fact that when prices are rising rapidly, American oil companies increasing production. Therefore, the market price of crude oil will remain at 40-50 USD, maximum will reach 55 USD."

The main traders believe that the oil production more than expected in the United States and oil production in Iran and Saudi Arabia will cause imbalance in the prices for at least 6 months.

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